MFS Multimarket Income Trust Shares Set to Reverse Split on Monday, November 9th (NYSE:MMT)

MFS Multimarket Income Trust (NYSE:MMT)’s stock is scheduled to reverse split before the market opens on Monday, November 9th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, November 8th.

MFS Multimarket Income Trust Stock Up 0.4%

Shares of MMT opened at $4.17 on Wednesday. The firm’s 50 day moving average is $4.33 and its 200-day moving average is $4.49. MFS Multimarket Income Trust has a 12-month low of $4.12 and a 12-month high of $4.79.

MFS Multimarket Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.48 annualized dividend and a yield of 11.5%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MMT. Allspring Global Investments Holdings LLC lifted its position in shares of MFS Multimarket Income Trust by 3.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,450,887 shares of the closed-end fund’s stock valued at $15,943,000 after acquiring an additional 106,882 shares during the last quarter. Rivernorth Capital Management LLC acquired a new position in shares of MFS Multimarket Income Trust in the 1st quarter worth $1,558,000. NewEdge Advisors LLC grew its holdings in shares of MFS Multimarket Income Trust by 260.5% in the 2nd quarter. NewEdge Advisors LLC now owns 187,488 shares of the closed-end fund’s stock worth $825,000 after acquiring an additional 135,487 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of MFS Multimarket Income Trust by 75.7% in the 1st quarter. Cetera Investment Advisers now owns 178,117 shares of the closed-end fund’s stock worth $823,000 after acquiring an additional 76,756 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. raised its position in shares of MFS Multimarket Income Trust by 83.9% during the second quarter. Fortitude Advisory Group L.L.C. now owns 163,481 shares of the closed-end fund’s stock worth $719,000 after purchasing an additional 74,568 shares during the period. Institutional investors own 18.97% of the company’s stock.

About MFS Multimarket Income Trust

MFS Multimarket Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol MMT. The fund seeks to provide high current income, with capital appreciation as a secondary objective, by investing in a diversified portfolio of fixed-income securities.

The trust invests across multiple sectors and geographies, including government and corporate debt, mortgage-backed and asset-backed securities, and securities issued by companies and governments in developed and emerging markets.